MIRA INFORM REPORT
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Report Date : |
14.06.2011 |
IDENTIFICATION DETAILS
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Name : |
AFTON TRADING INC |
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Registered Office : |
620 Mendelssohn Ave N #165, Golden Valley, MN, 55427 |
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Country : |
United States |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
14.01.2010 |
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Com. Reg. No.: |
3665555-2 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Global supplier for commodity and specialty chemical ingredients |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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Maximum Credit Limit : |
60 000 USD. |
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Status : |
New & Small Company |
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Payment
Behaviour : |
Usually Correct |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made on
e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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United States |
a1 |
a1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
GEOPOLITICS - UNITED STATES
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POLITICAL DATA |
ECONOMIC DATA |
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Form of Government: Federal
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Currency: USD |
IDENTIFICATION
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Ordered as: |
Afton Trading Inc |
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Address in the order: |
620 Mendelssohn Ave. N. Suite 165, 55427 Golden Valley |
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Legal Name: |
Afton Trading Inc |
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Legal Address |
620 Mendelssohn Ave N #165, Golden Valley, MN, 55427, USA. |
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Telephone: |
+1 (800) 478-0540 |
Registration Number : |
3665555-2 |
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Fax: |
+1 (763) 231-2102 |
Legal Form: |
Corporation for Profit |
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Email: |
info@aftontrading.com |
Registered in: |
Minnesota |
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Website: |
http://aftontrading.com |
Date Created: |
2010 |
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Manager: |
Matt Beeler, CEO |
Date Incorporated: |
January 14, 2010 |
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Staff: |
2 |
Stock: |
NA |
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Value: |
NA |
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Activity: |
Global supplier for commodity and specialty chemical ingredients |
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BANKS
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Name of the Bank |
Alerus Financial |
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Location |
10900 Wayzata Boulevard, Suite 130 Minnetonka, MN 55305 |
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Comments |
Account Contact: Brad Stevens |
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Name of the Bank |
BEACON BANK |
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Location |
19765 HIGHWAY 7 SHOREWOOD MN 55331 |
BUSINESS
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PRINCIPAL ACTIVITY |
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The company is a global supplier for commodity and specialty chemical
ingredients. |
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Products/Services description: |
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The company offers the following products: Adipic Acid Ascorbic Acid Butyl Acrylate Caustic Soda Beads Citric Acid Copper Sulfate Crude Glycerin DAP DKP EDA EDTA Acid EDTA Na2 EDTA Na4 EDTA CaNa2 Fumaric Acid Fumed Silica Iron Sulfate Isophthalic Acid Magnesium Sulfate Manganese Sulfate MAP MKP SHMP Silicones Sodium Citrate STPP Sweeteners TKPP amongst others. |
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Sales are: |
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Wholesale |
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Clients: |
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Its clients are in the following industries: Adhesives Animal Nutrition Fertilizer Food Ingredients Industrial Oil & Gas Paints & Coatings Personal Care Plastics Printing/Inks Renewable Fuels Water Treatment |
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Suppliers: |
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Tate & Lyle Allchem Industries Ashland Distribution Minnesota Soybean Processors |
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Operations area: |
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National, International |
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The company imports from Asia (China, India) |
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The company does not export |
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Trade References: |
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Tate & Lyle 5600 Brentlinger Drive Dayton, OH 45414 (800) 782-7244 ph (217) 421-4703 fax We have contacted Scott from the Credit Department but he refused to provide
any trade references on the telephone. We sent an email to the credit
department but Debbie Norman refused to provide any information. Allchem Industries 6010 NW First Place Gainsville, FL 32607 (352) 333-7372 ph (352) 338-0400 fax We could not contact Shari Dixon as we were directed to her voicemail.
We left her a message but received no reply by the time we did this report. Ashland Distribution 50 East RiverCenter Boulevard Covington, KY 41012 (612) 802-1311 ph (952) 445-5975 fax We have contacted Mike Malone, Sales Manager, who told us that they
are in business since March. They manage a credit line of USD 100,000. Afton
Trading Inc pays within 7 days but they have them on 30 days. They are very
satisfied with the subject company. Minnesota Soybean Processors 121 Zeh Avenue Brewster, MN 56119 (507) 842-6677 ph (507) 842-0086 fax |
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The subject employs 2 employee(s) |
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Comments on staff: |
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The company has 2 full time employees and 2 consultants. |
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PAYMENTS |
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made on a 60 days basis - monitored over the last 12 months |
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LOCATION |
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Headquarters |
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The company is headquartered at the above operative address. |
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Branches: |
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The company has warehouses at: Chicago, IL Houston, TX East Brunswick, NJ Fresno, CA |
Shareholders - Manager - Related Companies
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Listed at the stock exchange: |
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NO |
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Management: |
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Matt Beeler, CEO Dan Menk, President Cheryl Davis, Finance Manager |
Financials - COMMERCIAL TRENDS AND FORECAST
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As a private company the subject does not publish any financial
statements. |
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We have contacted Matt Beeler, CEO, who provided us with the following
data: |
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Currency |
DATE |
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USD |
2010 |
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Turnover |
5 000 000 |
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Net Income |
140 000 |
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Current Assets |
1 230 000 |
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Fixed Assets |
35 000 |
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Net worth |
290 000 |
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Liabilities |
370 000 |
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Bank liabilities |
600 000 |
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The cash flow is |
Normal |
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Legal Fillings |
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There is one UCC file listed with the
Secretary of State of Minnesota. There are no legal filings listed with the
District Court. For information: The Uniform Commercial Code (UCC) is one
of a number of uniform acts that have been promulgated in conjunction with
efforts to harmonize the law of sales and other commercial transactions in
all 50 states within the United States of America. The UCC deals primarily with transactions
involving personal property (movable property), not real property (immovable
property). It allows a creditor to notify other
creditors about a debtor’s assets used as
collateral for a secured transaction by filing a public notice (financing
statement) with a particular filing office. The Uniform Commercial Code Bureau files
and maintains on financial obligations (including IRS liens) incurred by
individuals (in business as a sole proprietor), business entities and corporations. |
rating
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Local credit bureau gave a Correct credit
rate. The company is in Good Standing. This
means that all local and federal taxes were paid on due date. |
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Final Opinion |
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The company has just one year in the
business. It is a small sized American company,
evolving in a stable sector. Profitability is correct, indebtedness is
high, cash is normal and payments are regular. We did not find a specific adverse record
against the subject. A credit line may be considered for 60 000
USD. |
SUMMARY
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Profitability |
CORRECT |
Public Records |
NO |
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Indebtedness |
HIGH |
Payments |
REGULAR |
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Cash |
NORMAL |
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APPENDIX
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Person Interviewed |
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Matt Beeler |
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Position |
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CEO |
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Comments |
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He agreed to verify the information. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.87 |
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UK Pound |
1 |
Rs.72.83 |
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Euro |
1 |
Rs.64.37 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.